The Zimbabweans in Diaspora Organisation (ZIDO) has called for a strategic shift in how Zimbabweans living abroad contribute to the nation’s economy, advocating for a greater focus on direct investment over personal remittances. The statement was delivered by ZIDO Chairperson Blessed Kapesa at the UK-Zimbabwe Business Expo and Property Show, a recent event held in Birmingham.
Speaking at the conference, Kapesa outlined the organization’s position that while remittances are a critical source of income for many Zimbabwean families, they should not be the primary economic role of the diaspora. He stated that encouraging Zimbabweans abroad to invest in businesses, infrastructure, and other development projects could create more sustainable, long-term economic benefits and job creation within the country.
The call from ZIDO comes against a backdrop of significant financial inflows from Zimbabweans living and working in other countries. According to the Reserve Bank of Zimbabwe, diaspora remittances reached $1.87 billion in 2023, representing a substantial source of foreign currency for the nation’s economy. These funds have historically played a major role in household consumption and social support.
ZIDO’s proposal suggests harnessing the skills, capital, and networks of the diaspora community to fuel enterprise and growth. The organization positioned Zimbabweans abroad not just as a source of financial support for relatives but as potential investors and key partners in national development.
The UK-Zimbabwe Business Expo and Property Show, where the remarks were made, is an annual event designed to connect the diaspora community with investment opportunities in Zimbabwe. The event features exhibitors from various sectors, including real estate, finance, agriculture, and technology, providing a platform for discussions on economic engagement.
Government officials and other business leaders were also present at the expo, which focused on facilitating trade and investment between the United Kingdom and Zimbabwe. ZIDO’s statement contributed to the broader theme of the event, which centered on leveraging international connections for economic advancement. The organization did not specify policy changes it would seek but emphasized a change in perspective among both the diaspora and policymakers in Zimbabwe.
